Annual premiums for auto insurance in Mississippi are quite a bit lower than the national average, at $1116 in 2011 compared to $1440 nationwide.
Annual Changes
Premiums in Mississippi declined 7% between 2011 and 2010, following a 16% decrease between 2009 and 2010. There is no fixed premium structure in Mississippi and insurers which operate there are free to set their own rates. Especially because rates often change during the course of a single year, drivers are advised to check Mississippi car insurance rates on our site in order to obtain and maintain the best possible price.
Seasonal Changes
Auto insurance rates in Mississippi were indeed quite volatile in 2010. Rates peaked in April, fell sharply in May and then rose again in June and July before a downward spiral began in August that kept the average annual premium lower for the rest of the year. Changes like this could easily occur again in Mississippi, so that shopping around by keeping track of rates is always encouraged.
Insurance Requirements
Minimum insurance requirements for the state of Mississippi call for personal liability coverage of $25,000 per person/$50,000 limit per accident and a $25,000 property damage liability limit. However, the state works under a tort system, where one party must be judged responsible for any accident. That party is then held liable for the entire cost of the accident. Higher limits are therefore recommended to protect assets in the event of a lawsuit. Coverage to protect against damage caused by an uninsured or under-insured driver is available and recommended in Mississippi, especially because the minimum state requirements are rather low.
Advice for Getting the Best Deals
Both major national insurers and regional insurers offer car insurance in Mississippi. Since each company uses different criteria to determine their premiums for each driver, it is not possible to determine which companies offer the lowest rates. Experts recommend obtaining multiple quotes from reliable insurance companies which are rated A or higher by A. M. Best. It is also advised to check the J. D. Power ratings for consumer service related information.
Using our site to monitor rates and periodically obtain new quotes is the best way to get the lowest rates for car insurance in Mississippi.
